EBRD: Belarusian Economy Will Shrink More Than Expected

The European Bank for Reconstruction and Development made the forecast even worther.

The European Bank for Reconstruction and Development believes the economy of Belarus will shrink by 4% this year. Compared to March, the bank worsened its forecast by one percent, according to Deutsche Welle.

According to the EBRD, the Russian economy will fall by 10% due to sanctions.

Ukraine will suffer the most this year: the EBRD predicts a contraction of the economy by almost 30% - compared to March, the forecast significantly deteriorated.

At the same time, bank analysts believe that growth by 25% is expected next year.